Reality Check

Apple Disappoints

Not all news can be good news and Wall Street is no exception. Yesterday we had the good earnings news from Google that helped its stock surge 5.5% today.

Tonight, after the market close we have Apple (News - Alert) with the not so rosy release for its last quarter. A record 48 million iPhones were sold and overall profit was $13.1 billion, below expectations and certainly disappointing for many, but not much of a surprise to me.

Story continues below ↓

Apple shares are down nearly 10% in after-hours trading and tomorrow promises to be a rough day for this company with possible spill-over to other tech and communications concerns, such as Intel (News - Alert) and AT&T.